On Tuesday, the 11th Circuit vacated and remanded a lower court's seven-day sentence for former HealthSouth Chief Financial Officer Michael Martin, calling it "shockingly short." HealthSouth executives were accused of vastly overestimating the company's earnings from the 1990's until 2002. Although Martin tried to convince CEO Richard Scrushy not to continue with the fraud, the federal panel said this week that a conservative estimate of the losses attributable to Martin totals some $1.4 billion.
11th Circuit Reverses Sentence for HealthSouth CFO -- Again
Special to Law.com
July 12, 2006